Seoul: Won, shares turn higher after China shares cut losses
[SEOUL] The South Korean won erased earlier losses and closed higher against the dollar on Tuesday on easing risk-off sentiment after Chinese shares cut losses.
Domestic exporters' demands for month-end settlement and profit-taking in the greenback following recent sharp gains also underpinned the local currency.
The won closed up 0.2 per cent at 1,164.9 per dollar after falling as much as 0.3 per cent to 1,170.6 in the morning.
The Korea Composite Stock Price Index (KOSPI) erased early losses to turn slightly higher, closing at 2,039.10 points, barely changed from the previous close of 2,038.81. It slid as much as 1.1 per cent to 2,015.91, the lowest in nearly three weeks.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Europe: Stoxx 600 falls on banks drag; tech contains losses on ASMI boost
US: Stocks end flat ahead of key inflation data
Hong Kong spot crypto ETFs to start trading next week
Greenback recovers from PMI slump, yen closes in on 155 per dollar
Hong Kong Stock Exchange bids farewell to first woman chair
Asia stocks rise on Wednesday amid Wall Street rally; STI up 0.6%